The Boss Energy (ASX: BOE) share price opened flat this morning following release of the company’s latest quarterly results.
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Shares in Boss Energy have rocketed up higher than 120% over the past 12-month period.
The Honeymoon Uranium Project
Boss Energy’s Honeymoon Uranium Project is located in South Australia. The project is fully permitted to export 3.3 million pounds of uranium a year. Uranium costs around US$30 a pound at the moment.
This all adds up to pulling in US$99,000,000 a year at full production, in the current business environment before costs and charges.
In today’s release, Boss Energy advised that the Honeymoon Project will earn an all-in cost of US$32 a pound. This compared with current long-term contract prices which the miner said “are close to ~US$40 a pound”. This is based on findings from the project’s enhanced feasibility study (EFS).
According to Boss, the Honeymoon Project is globally recognised as one of the most low-cost uranium production projects.
Successful $15 million share placement
Back in October, Boss Energy announced that the company had received firm commitments regarding a $15 million share placement.
This deal has now been executed via the placement of approximately 224 million new shares for 6.7 cents per share with institutional and sophisticated investors.
The funds raised will be used for activities including recruitment of additional experts as required, ongoing tenement exploration and to assess and execute merger and acquisition (M&A) opportunities where appropriate.
What else should I know about the Boss Energy share price?
Following a recent re-brand from Boss Resources Limited to Boss Energy Limited, the company hopes to position itself as a positive contributor to clean energy.
Boss continues appointing big players to the board, corporate team and mining site. With a strong team of experts that continues to grow, Boss says it’s positioned to be a major player in the uranium industry.
At the time of writing, the Boss Energy share price is trading at 10 cents per share, and has a market capitalisation of $183 million.
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Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.